New York State Teachers Retirement System Has $6.08 Million Stock Position in Granite Construction Incorporated (NYSE:GVA)

New York State Teachers Retirement System grew its stake in shares of Granite Construction Incorporated (NYSE:GVA) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,359 shares of the construction company’s stock after purchasing an additional 2,689 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Granite Construction worth $6,083,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. bought a new position in shares of Granite Construction during the 4th quarter worth approximately $92,154,000. Hennessy Advisors Inc. bought a new position in shares of Granite Construction during the 4th quarter worth approximately $61,046,000. Fisher Asset Management LLC boosted its stake in shares of Granite Construction by 86.4% during the 3rd quarter. Fisher Asset Management LLC now owns 363,816 shares of the construction company’s stock worth $28,843,000 after acquiring an additional 168,673 shares during the period. Brightline Capital Management LLC bought a new position in shares of Granite Construction during the 3rd quarter worth approximately $11,971,000. Finally, Peregrine Asset Advisers Inc. bought a new position in shares of Granite Construction during the 3rd quarter worth approximately $4,616,000.

Granite Construction Stock Performance

GVA opened at $86.78 on Thursday. The business has a fifty day simple moving average of $89.46 and a 200 day simple moving average of $85.16. The company has a market capitalization of $3.79 billion, a PE ratio of 35.13 and a beta of 1.42. Granite Construction Incorporated has a 1 year low of $48.11 and a 1 year high of $105.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.66 and a quick ratio of 1.56.

Granite Construction (NYSE:GVA) last announced its quarterly earnings data on Thursday, February 13th. The construction company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.19). The company had revenue of $977.30 million during the quarter. Granite Construction had a net margin of 3.15% and a return on equity of 20.67%. During the same period in the previous year, the company earned $0.82 earnings per share. Research analysts expect that Granite Construction Incorporated will post 5.68 EPS for the current year.

Granite Construction Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.60%. Granite Construction’s dividend payout ratio (DPR) is currently 21.05%.

Granite Construction Profile

Granite Construction Incorporated operates as an infrastructure contractor in the United States. It operates through two segments: Construction and Materials segments. The Construction segment engages in the construction and rehabilitation of roads, pavement preservation, bridges, rail lines, airports, marine ports, dams, reservoirs, aqueducts, infrastructure, and site development for use by the public and water-related construction for municipal agencies, commercial water suppliers, industrial facilities, and energy companies; and construction of various complex projects, including infrastructure/site development, mining, public safety, tunnel, solar storage, and power related projects.